(REPRINTED WITH ADOPTED AMENDMENTS)

 

Assembly Bill No. 87–Committee on Government Affairs

 

(On Behalf of Department of Business and
Industry-Directors Office)

 

February 12, 2001

____________

 

Referred to Committee on Government Affairs

 

SUMMARY—Makes various changes concerning confidentiality of certain information relating to bonds for industrial development. (BDR 30‑550)

 

FISCAL NOTE:            Effect on Local Government: No.

                                    Effect on the State: No.

 

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EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted.

 

AN ACT relating to revenue bonds for industrial development; requiring that certain information, statements and records submitted by an obligor for the issuance of such bonds be kept confidential in certain circumstances; and providing other matters properly relating thereto.

 

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN

SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

 

1-1    Section 1. NRS 349.597 is hereby amended to read as follows:

1-2    349.597  1.  Except as otherwise provided in subsection 2, the

1-3  director, the board and the governing body of the county or city where a

1-4  project is located shall make available for public inspection, upon request,

1-5  information furnished by an obligor to obtain the director’s assistance in

1-6  financing a project pursuant to NRS 349.400 to 349.670, inclusive. At the

1-7  time at which an obligor initially seeks to obtain the director’s assistance

1-8  in financing a project, the director shall inform the obligor of the

1-9  provisions of this section.

1-10    2.  Except as ordered by a court of competent jurisdiction or as required

1-11  by federal law, the director, the board and the governing body of the

1-12  county or city where the project is located shall not[, without the prior

1-13  consent of the obligor,] disclose proprietary information or financial

1-14  statements or records of the obligor or guarantor that are not otherwise

1-15  available to the public [unless the obligor has:

1-16    (a) Requested] if:

1-17    (a) The obligor has requested in writing that the information,

1-18  statements or records be [made public; or

2-1    (b) Furnished the information, statements or records for a purpose other

2-2  than obtaining the director’s assistance in financing a project pursuant to

2-3  NRS 349.400 to 349.670, inclusive.] kept confidential and has specified

2-4  the legal authority pursuant to which such information, statements or

2-5  records must be kept confidential; and

2-6    (b) The director has found that the legal authority specified by the

2-7  obligor requires that the information, statements or records be kept

2-8  confidential.

2-9    3.  As used in this section:

2-10    (a) “Proprietary information” means any trade secret or other

2-11  information which, if disclosed to members of the general public, may

2-12  result in a competitive disadvantage to the obligor, including, without

2-13  limitation:

2-14      (1) Documents concerning the marketing or strategic planning of the

2-15  obligor;

2-16      (2) Data, studies and reports concerning the development of new

2-17  products or services; and

2-18      (3) Data that identify the share of the market of the obligor.

2-19    (b) “Trade secret” has the meaning ascribed to it in NRS 600A.030.

2-20    Sec. 2.  This act becomes effective upon passage and approval.

 

2-21  H